So.... where's the best place to put your money now?

POSTED BY: 6ixStringJack
UPDATED: Wednesday, March 19, 2008 21:49
VIEWED: 7357
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6IXSTRINGJACK

Thursday, January 31, 2008 5:51 AM

Not so much Phat Lewt.... just about 7 times what I owed on my credit cards 3 years ago. Pays to learn some very hard financial decisions early in life, I suppose. Guess that's why I get really pissed when they talk about bailing out the housing crisis. Ain't my mess... I just finally cleaned up my mess. Why should I have to pay to fix theirs?

I guess I wouldn't call it chump change either though.

Let's just say that I did laugh pretty hard when the guy at the bank asked me if I planned on making any deposits or withdrawls in one day that were over $100,000.00

I don't imagine that will be happening anytime too soon, although I do believe that in my lifetime everyone in this country will be millionaires, even the people who can't afford a roll of toilet paper.... or anything worth eating that might give them cause to use it in the first place.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

SIGNYM

Thursday, January 31, 2008 6:18 AM

Hmmm... foreign and domestic stocks, bonds, commodities, real estate, currency, precious stones .... Gold and the Euro are too high. Real estate still has a ways to fall before it becomes attractive. I think stocks are in for a lot of chop due to the recession, but some stocks might be a good buy now (banking stocks, some tech stocks). The dollar is still prolly gonna sink further.

All I can come up with is the Chinese yuan.

BTW- I tried to open a Swiss account. It takes a million-dollar deposit, no shit. AND they don't like you to move your money around a lot, either. Except for privacy, the bank account doesn't seem like such a good deal.

Now, a Swiss safe deposit box OTOH...

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Always look upstream.

6IXSTRINGJACK

Thursday, January 31, 2008 6:35 AM

Yeah Signy... I know what you're saying. I really missed the boat on gold and such... and I just keep putting that off hoping for the FED to increase rates, but it never happens. I reckon that if they don't raise those rates soon it won't be long till we're going to be looking upon the Canadian Loonie with the very same awe and wonderment that Zimbabwe with their 50,000% a year inflation must look at the Dollar with today.

What do you think about buying 1 million "Forever" Stamps from the Post office? Assuming that somebody (China) doesn't just buy America, I could make a killing off that investment when stamps are going for $5.00 a pop.

EDITED TO ADD: Yeah.... I just figured the math and I can't afford a million "Forever" stamps, but I reckon somewhere in the range of 100,000 to 130,000 should last me a while. Minus storage fees and fire insurance, of course.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

KIRKULES

Thursday, January 31, 2008 9:20 PM

Quote:
Originally posted by 6ixStringJack:
I really missed the boat on gold and such...

There might be an opportunity coming soon to make money betting against gold. The commodity traders have got it in their minds that gold should go to $1000/ounce so I'm sure it will. When they decided they wanted oil at $100 dollars/barrel it didn't take long for them to prove themselves right. You can buy a stock that tracks gold under the ticker symbol (GLD). What I'm thinking of doing for a trade, is Short Selling (GLD) when gold reaches $1000 dollars/ounce. Just like oil I expect a 10% or more retracement in the gold price due to the speculators pushing gold to $1000. Potential for a quick gain, and if it doesn't happen just cover you short right away.

GRIZWALD

Thursday, January 31, 2008 9:34 PM

I bought AAPL in September when it was about $136 a share.

___________________________________________________
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Click on my profile for my Annoyingly Long List of Firefly Links.

HERO

Thursday, January 31, 2008 9:50 PM

Quote:
Originally posted by Kirkules:
There might be an opportunity coming soon to make money betting against gold.

Gold? Rite Aid (RAD) is up 50% since I first mentioned it in this thread. I've made $5,000 as of todays close.

I'm going to splurge tonight for my girlfriend...perhaps even let her order something not on the Value menu at McDonalds. She deserves it.

H

VETERAN

Friday, February 1, 2008 2:41 AM

Speaking of fast food, I heard Burger King really out performed McDonald's last quarter.

6IXSTRINGJACK

Friday, February 1, 2008 3:21 AM

I've made 100 bucks in interest on my MMA, about 60 bucks in my very conservative 401k and whatever Goldcorp has gained or lost since this thread started.

Minus whatever the dollar has lost and, the 25% tax and whatever losses inflation are bludgeoning me with.

I wanna do something with it, and I know to make some good decisions today could make me a very happy man, but I'm just nervous to pull the trigger anywhere now.

Not like me, to not dive head first into something.

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

RUE

Friday, February 1, 2008 4:08 AM

I know what you mean about being hesistant right now.

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"Global warming - it's not just a fact, it's a choice."

JAYNEZTOWN

Sunday, March 2, 2008 1:12 AM

stocks winced again and oil is at record prices

Where to go next ?

Gold, Pharmaceuticals, Silver, the European currency Euro, selected stocks in the US, EU, Asia.

I hope the next president tries to get us Oil price by going to Hydro energy, Nuclear whatever

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